Australia’s Burke, Chalk and Ball (BCB) Financial Planning has opted to be licensed by local non-institutionally-owned dealer group GPS Wealth.
The move comes as ASIC’s 1 July deadline for eliminating exemption on licensing to offer financial advice on self-managed superannuation funds (SMSF) inches near.
Couple of days back, the regulator warned SMSF accountants saying that they could face regulatory action on offering unlicensed advice. Accountants will not be able to provide such advice till they get a limited Australian financial services licence or become an authorised representative of a licence-holder or licensee, the watchdog said.
BCB director Adam Chalk said that the firm intended to collaborate with a similar-minded licensee for the long term that had the resources and experience to support growth of practices.
"GPS has a unique offer. The group’s client-centric advice philosophy is completely aligned to our way of thinking and it’s backed by a suite of effective client engagement, practice management and advice tools, and a team that’s fully committed to doing whatever it takes to help advisers build and run successful businesses," Chalk said.
In May, BCB Financial Planning, affiliated with BCB Accountants and Business Advisors, also made a referral arrangement with accounting and tax firm J&C Accountants.